These past years were eventful and intense. Working long hours was gratifying, but at the same time has taken a toll on my private life. We have set a lot in motion in recent years and as a change manager, I am proud of the innovations we have realised and on which the bank can build. A logical moment for me to pass the baton shortly.”

Gerard van Olphen, Chair of the Supervisory Board of de Volksbank: “The Supervisory Board regrets that Martijn has decided not to seek a second term, but respects his decision. Early 2021, a tightened strategy was presented under his leadership, which is now paying off. The changes Martijn, with his characteristic energy, passion and commitment, initiated, contribute to the strong distinctive position of de Volksbank in the Dutch banking landscape. For this, I would like to sincerely thank him on behalf of the Supervisory Board and all our colleagues.”

Jeroen Dijst: “It is with pride and satisfaction that I had the opportunity to be part of de Volksbank and its brands for eight years. It was an exciting journey in which I wholeheartedly enjoyed banking for customers, employees, society and the shareholder on the basis our shared value ambition in order to work on the bank with the strongest customer relationships and the greatest proven social impact. From my responsibility as CRO, together with my teams and all our colleagues, I was able to make great strides in the areas of risk, compliance, financial care as well as in the interaction with supervisory authorities. After two terms in office, I am happy to make room for a new face."

Gerard van Olphen: “On behalf of the Supervisory Board I thank Jeroen for his contributions to our bank’s risk management and sustainability policy. Not least thanks to his dedication over the past eight years, we not only have a resilient bank that stood up well to the turbulent period with the COVID-19 pandemic, Ukraine war and rapid interest rate swing, we also have a social bank that adds value for customers, society, employees and the shareholder based on its mission of ‘Banking with a human touch’. We are grateful to Jeroen for this."

The adverse stress test scenario was carried out applying a static balance sheet assumption as at December 2022, and therefore does not take into account a bank’s future growth or management actions. In addition, the bank’s net interest income was capped at the 2022 level.

The adverse scenario assumes a worsening of geopolitical tensions leading to a severe decline in GDP with persistent inflation and high interest rates. This scenario is designed to ensure a significant severity of various macroeconomic and financial shocks across all EU countries. For example, the assumption with respect to Dutch house prices was a cumulative 32% decrease up to 2025.

The starting point of the stress test for de Volksbank, was a year-end 2022 CET1 capital ratio of 20.26%. Under the baseline scenario and EBA’s methodological instructions, de Volksbank would have a CET1 capital ratio of 18.91% in 2025. Under the adverse scenario, our CET1 capital ratio would stand at 10.01% in 2025. Our current overall CET1 capital requirement stands at 10.69%, implying partial use of the capital buffers. These buffers aim to enable banks to absorb losses while maintaining the provision of key services to the real economy.

Detailed results of the EBA EU-wide stress test are available on the website of the EBA.